Can i sell my house if i owe last years taxes?

Question

I am currently behind on my mortage payments and owe last years taxes and the only way i can fix it is if i sell my home or just let it go which i would hate to lose it. I would much rather try to sell it but i don't know how to go about it..What do you suggest???

Answer 1

Hi,

They will take the taxes out of any proceeds that you get at the closing when you sell your house. If there are no proceeds, or if you aren’t getting enough money from the house to cover the taxes, then you will have to bring that money to the closing table.

If the mortgage company has filed a lis pendens (started foreclosure proceedings) you should probably talk to an attorney just to explore your options.

Best of luck to you,

Barbara
www.therealestatebirddog.com

Answer 2

You can certainly sell a home with unpaid back taxes, but do understand that the amount of tax due, plus any penalty will be paid to the municipality at closing from your sales proceeds. If you have sufficient equity in your home to cover all the taxes owed, plus to pay off your mortgage, you should be OK.

Answer 3

You can sell it, and the title/escrow company will collect taxes that are due/past due at the time of sale. Depending on how taxes are assessed in your area (in the arrears or in advance) the buyer may customarily be expected to reimburse you for any taxes you have paid in advance.

You can also try working out a payment plan with your current lender. There are several options....

Answer 4

yes you can my grandfather brought a house last year that had 2 years of taxes owed on it the way they do it is they take what ever you owe out of what ever your trying to sell it for and pay the taxes up

Answer 5

The Mortgage and the Taxes will be paid at closing out of the funds for the sale, as well as any liens if any.